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ISA confusion

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I have read the ISA rules and various comments from experts and I am now more confused than ever.
My dillemma is this: I have opened a new Cash ISA with new money with provider A.
I have transferred a maturing ISA with provider A to a new account with provider B - no new money.
I have another ISA with provider A maturing soon - can I transfer this to B (or possibly C) -again new money.

Help!

Phil

Comments

  • doitagain
    doitagain Posts: 7 Forumite
    Part of the Furniture First Post Combo Breaker
    Sorry, that should read NO new money in last line.

    Told you I was confused!
  • eskbanker
    eskbanker Posts: 37,189 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes, you can do what you like with prior year contributions, subject to compliance with individual product terms - the rules all relate to constraints around current year money.

    Having said that, if you're moving maturing money out of A, why are you putting this year's money into there?
  • doitagain
    doitagain Posts: 7 Forumite
    Part of the Furniture First Post Combo Breaker
    Thanks for the answer. Can sort it out now.

    This year's allowance will go into an easy access account with A. The new account with B will a fixed rate which is a better deal than similar with A.

    Thanks again
  • refluxer
    refluxer Posts: 3,186 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    doitagain said:
    I have read the ISA rules and various comments from experts and I am now more confused than ever.
    My dillemma is this: I have opened a new Cash ISA with new money with provider A.
    I have transferred a maturing ISA with provider A to a new account with provider B - no new money.
    I have another ISA with provider A maturing soon - can I transfer this to B (or possibly C) - again no new money.
    Just note that most ISA providers only allow you to pay into a fixed rate ISA within an initial funding window (1 month is common but this can vary) so if you haven't picked one of those providers who do allow funding throughout the duration of the fixed rate period (Shawbrook, Barclays etc) then the maturity date of the other ISA you mentioned will have to fall within that funding window in order for you to be able to transfer into the one you hold with provider B.
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